Algonquin Powers Up In Q4 But Skips Guidance On Uncertainty Over Renewables Sale



Algonquin Power & Utilities Corp. (NYSE:AQN) shares are trading higher after the company reported fourth-quarter FY23 results.

Revenue declined 11% Y/Y to $666.9 million, beating the consensus of $653.0 million.

The Regulated Services Group recorded a revenue decline of 11% Y/Y to $564.9 million, with Divisional Operating Profit growth of 11% led by the implementation of new rates and recovery of investments at the CalPeco, Empire, Granite State, and Bermuda Electric Systems as well as the Park Water and Pine Bluff Water Systems.

Renewable Energy Group revenue declined 7% Y/Y to $82.1 million, and operating profit grew 6% …

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